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Canadian Pacific Railway reached tentative four- and five-year agreements with Teamsters after a strike by more than 3,000 workers ended on May 30. Operations at affected facilities were set to resume Thursday.
CP shares rose to a record.
The strike had threatened grain, potash and canola shipments amid already tight Canadian rail capacity; resolution eases near-term logistics bottlenecks, reducing upward pressure on basis and freight costs for feed grains and canola meal.
cnbc.comYashaswini Swamynathan, Rod NickelMay 30, 2018Not enough comparable past events yet for a historical read.
After 284 past neutral logistics events, Corn moved a median -0.0% over 5 sessions (49% higher; middle half -1.3% to +1.4%), and -0.2% over 20.
After 163 past neutral logistics events, Wheat (SRW) moved a median +0.1% over 5 sessions (53% higher; middle half -1.3% to +1.1%), and -0.3% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
